$BTC Cardano is a blockchain platform that utilizes a proof-of-stake consensus mechanism, specifically the Ouroboros protocol, to facilitate secure and scalable transactions. Its native cryptocurrency is ADA, which is used for transactions and other network activities.
*Key Features:*
- *Decentralized and Public*: Cardano is an open-source, decentralized blockchain platform that enables peer-to-peer transactions without intermediaries.
- *Secure and Scalable*: Cardano's design combines pioneering technologies to provide unparalleled security and sustainability for decentralized applications.
- *Two-Layer Architecture*: The platform has a settlement layer (CSL) for transactions and a computational layer (CCL) for smart contracts, enhancing transaction speed and security.
- *Proof-of-Stake Consensus*: Cardano's Ouroboros protocol ensures energy efficiency and security through a proof-of-stake consensus mechanism ¹ ² ³.
*Current Status:*
- *Current Price*: ADA's current price is around $0.63, with a 0.6% increase in the last 24 hours.
- *Market Capitalization*: Cardano's market cap is approximately $22.48 billion, ranking it #11 on CoinGecko.
- *Trading Volume*: The 24-hour trading volume of ADA is around $501 million, representing a 50.30% decrease from one day ago ⁴ ⁵.
*Development and Use Cases:*
- *Decentralized Applications*: Cardano supports the development of decentralized applications (dApps) and has reached a milestone of 2,000 projects.
- *DeFi*: The platform aims to provide a secure and scalable infrastructure for DeFi applications, with proposals to inject $100 million into Cardano's DeFi ecosystem.
- *Peer-Reviewed Research*: Cardano's development is rooted in peer-reviewed academic research, emphasizing a scientific approach to blockchain development ⁴ ⁶ ³.
